One-Stop Shop for Homebuyers and Sellers in Sofia

One-stop Concierge Real Estate Service for International Clients

Buying or selling a home in Sofia does not have to be a big headache with issues such as the Bulgaria language, interactions with the institutions, shopping for furniture and finding someone to perform the finishing work on your new property when you choose the correct real estate broker in Sofia, Bulgaria.

To help you with your property sale or purchase the team at Sofia Property Broker provide a one-stop concierge service for international clients that aim to take the stress out of the situation.

Simplify Your Property Purchase in Sofia, Bulgaria

You can now browse hundreds of available homes for sale on the Internet, but it all takes time and usually ends up with a list of questions on each property that the advert does not answer.

Property buyers are often pushed through a long-complicated process, when what they need is someone to guide them through the steps and give them the advice and knowledge that they need to have a successful property transaction with exceptional service while saving money.

At Sofia Property Broker we want to create a better experience by focusing on your goals and delivering a smooth, pressure-free process when helping you to find a new property in Sofia, instead of just chasing a commission.

Should I Choose Sole or Multiple Estate Agents when selling a Property in Sofia?

Having your property listed with several agents could lead to more potential buyers, and competition between agents can work in your favour, however, it also increases the hassle of dealing with loads of phone calls and viewings – many that are just from tyre kickers.

If you list your property in Sofia with a sole agent, there will be an exclusivity period, typically lasting 12 weeks or more, preventing you from selling with another agent – if you do sell via another agent during this period then penalties will apply as specified in your contract with the real estate agent.

If you engage Sofia Property Broker a sole agent then we can offer a lower fee, but a multi-agent agreement will come at a higher price, because only the successful agent earns commission.

One advantage of using more than one estate agent is that the firms will be competing to secure the commission. This may mean they will work harder and faster to sell your home than a sole agent who has the safety net of a long exclusivity agreement.

Using Listing Portals Instead of Using a Real Estate Agent in Sofia

The most popular real estate portal in Bulgaria is imot.bg (which is currently only available in Bulgarian and so it may be difficult for a non-Bulgarian speaker to use) but portals are still no substitute for an agent with a good list of applicants of potential buyers. A good estate agent will send details of your property to buyers who might not have thought of searching in your exact area – so they are unlikely to find it in online searches.

On average, 50% of the interest in your property will come from our list of buyers rather than people who see it online.

But you must be careful when employing a sole agent as if they do not do a good job then it will delay the speed of your property sale in Sofia. So, make sure that you study the sole seller agreement carefully before signing it and ask the following questions:

• Photography – Is the agent using a professional photographer to present your property in the way that it deserves.
• Marketing – What type of marketing will the agent use to ensure your home is seen by the widest possible audience?
• Website – While property portals are important, does the agent have a modern, easy-to-navigate website that is well written and appears trustworthy?
• No sale no fee – You only pay the agent’s commission upon completion of a successful sale?
• Duration of the agreement – This should be no longer than 12 weeks for a private sale but can be much longer for a new development.

Common Reasons Given for Using Multiple Agents

Many people mistakenly believe that taking on multiple agents will increase visibility, speed up the sale, and ultimately bring in more money once the sale completes, but this can often backfire. For example:

• Increased visibility and reach – Property portals make it easy for buyers to search by area these days, regardless of the estate agent they are registered with, so increased visibility is not really a good enough reason for sellers to pay higher fees.
• Getting a faster sale – It’s certainly true in some instances that signing a multiple agency agreement will result in a quicker sale, but at what cost? Will the faster sale be because of pushy agents fighting tooth and nail to get low offers accepted just so they get the commission instead of their competitors?
• Achieving a better price – Many believe that pitting agent against agent will result in a higher price for their property but, as we mentioned in the previous point, this is often not the case.

So Which Approach To Appointing a Real Estate Broker in Sofia in my Situation?

This will depend on several factors such as:

• The uniqueness of your property
• The state of the market
• Whether you are in a hurry to sell or can afford to wait for the best offer.

For many property sellers in Sofia, starting with a sole agent the best good option since there is such a high demand for properties, provided they can secure a competitive fee and an exclusivity period that is not too long.

Choosing more than one real estate agent in Sofia also has the risk of diluting your marketing efforts and looks a bit desperate to sell the property (which was probably over-valued by the first agent used if I did not sell as demand is so great).